Over the weekend, Bitcoin made headlines as it surpassed the $80,000 mark for the first time. The leading cryptocurrency continued its upward trajectory, reaching over $82,000 on Monday. This surge in price came alongside increased trading volumes, with BTC experiencing a more than 4% rise in value, reaching almost $100 billion in trading volume.
Weekend pumps in the crypto market are often viewed as positive signs, as they suggest increased interest from retail investors and traders. With professional traders and institutional investors typically less active on weekends, the bullish sentiment surrounding Bitcoin’s price increase is notable.
As the new week began, Bitcoin continued its climb, reaching a high of $82,394. Futures premiums on BTC-tracked products have also been on the rise, indicating a strong bias towards bullish bets in the market. The growing popularity of the $80,000 call option on Deribit further suggests that dealers may be hedging their positions around this key price level.
